OceanaGold (TSE:OGC) Given New C$5.25 Price Target at CIBC

OceanaGold (TSE:OGC) had its price objective upped by CIBC from C$5.00 to C$5.25 in a research note issued to investors on Wednesday, BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 50.86% from the stock’s previous close.

A number of other equities analysts have also recently commented on OGC. Desjardins raised shares of OceanaGold to a “moderate buy” rating in a report on Friday, May 10th. Canaccord Genuity Group lifted their price objective on shares of OceanaGold from C$4.00 to C$4.25 in a research note on Tuesday, April 23rd. Scotiabank increased their target price on shares of OceanaGold from C$4.00 to C$4.25 in a research note on Thursday, May 23rd. National Bank Financial reissued an “outperform overweight” rating on shares of OceanaGold in a report on Monday, April 8th. Finally, Jefferies Financial Group upped their price objective on OceanaGold from C$3.50 to C$4.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, OceanaGold has an average rating of “Buy” and an average price target of C$4.22.

OceanaGold Stock Performance

Shares of OGC stock traded up C$0.03 during mid-day trading on Wednesday, hitting C$3.48. 391,907 shares of the stock were exchanged, compared to its average volume of 1,411,709. The stock’s fifty day simple moving average is C$3.18 and its two-hundred day simple moving average is C$2.91. OceanaGold has a 12-month low of C$2.08 and a 12-month high of C$3.54. The stock has a market capitalization of C$2.48 billion, a price-to-earnings ratio of 49.71 and a beta of 1.61.

OceanaGold (TSE:OGC) last released its quarterly earnings results on Tuesday, April 30th. The company reported C$0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.01). The firm had revenue of C$364.40 million for the quarter. OceanaGold had a return on equity of 2.29% and a net margin of 3.69%. On average, research analysts expect that OceanaGold will post 0.3147257 earnings per share for the current fiscal year.

OceanaGold Company Profile

OceanaGold Corporation, a gold and copper producer, engages in exploration, development, and operation of mineral properties in the United States, the Philippines, and New Zealand. It explores for gold, copper, and silver deposits. OceanaGold Corporation was founded in 2003 and is based in Vancouver, Canada.